Mackenzie Financial Corp Sells 1,289 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Mackenzie Financial Corp reduced its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,379 shares of the data storage provider’s stock after selling 1,289 shares during the period. Mackenzie Financial Corp’s holdings in Seagate Technology were worth $1,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Seagate Technology during the 4th quarter worth approximately $26,000. CVA Family Office LLC bought a new stake in Seagate Technology during the 4th quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Seagate Technology during the 4th quarter worth approximately $28,000. Parkside Financial Bank & Trust lifted its holdings in Seagate Technology by 85.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after buying an additional 205 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in Seagate Technology during the 4th quarter worth $43,000. 92.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on STX shares. Wells Fargo & Company upped their price objective on Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. The Goldman Sachs Group upped their price objective on Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $73.00 to $115.00 in a report on Tuesday, March 26th. UBS Group upped their price objective on Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Wedbush reissued a “neutral” rating and issued a $100.00 price target on shares of Seagate Technology in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Seagate Technology presently has an average rating of “Hold” and a consensus price target of $94.53.

Seagate Technology Trading Up 0.7 %

Shares of Seagate Technology stock opened at $87.11 on Thursday. The company has a market capitalization of $18.25 billion, a PE ratio of -67.53, a PEG ratio of 715.12 and a beta of 1.04. Seagate Technology Holdings plc has a 12 month low of $54.47 and a 12 month high of $101.26. The stock’s fifty day simple moving average is $89.30 and its 200 day simple moving average is $82.64.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. Seagate Technology’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.43) EPS. Analysts predict that Seagate Technology Holdings plc will post 0.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.21%. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.